Signet Jewelers (NYSE:SIG) reached for the stars on early Thursday morning equity markets, after it reported second-quarter earnings of 51 cents per share, which beat the analyst consensus estimate of 24 cents.
This is a 1.92% decrease over earnings of 52 cents per share from the same period last year.
The company reported quarterly sales of $1.364 billion, which beat the analyst consensus estimate of $1.34 billion. This is a 3.94% decrease over sales of $1.42 billion the same period last year.
Net cash provided by operating activities were $246.6 million year to date. Free cash flow of $194.4 million year to date
Signet Jewelers sees fiscal year 2020 adjusted EPS $2.91-$3.23 versus the $2.91 estimate and sales adjusted from $6 billion-$6.03 billion versus the $6-billion estimate.
"We continue to gain traction on our transformation initiatives and delivered second quarter results that exceeded our same store sales, non-GAAP operating profit, and non-GAAP earnings per share expectations," said Signet CEO Virginia Drosos.
"As we enter the competitive holiday season, we believe we are positioned to execute our product strategy by launching additional flagship brands, delivering relevant on-trend new merchandise and offering a highly competitive assortment for value-oriented shoppers. We remain focused on delivering our Path to Brilliance transformation designed to drive sustainable growth and create value for our shareholders over the long term."
Shares jumped $3.08, or 28% to $14.10. The stock has a 52-week high of $68.24 and a 52-week low of $10.40.
